Merchant Cash Advances: A Tried and True Alternative
For some business owners, loans and financing can be out of the question. Sometimes you just need to get cash flow as soon as possible. Service Capital understands that business owners need help and offers a tried and true alternative: merchant cash advances . While this isn’t exactly a new concept, it’s important to understand how they work and if they make sense for you and your business moving forward. Merchant Cash Advances and standard business loans are very different. While loans will often require you to put up some form of collateral, merchant cash advances don’t. Instead, you’ll get a lump sum after terms are agreed upon. Once you have the money, the repayment begins automatically through a percentage of card sales every month. Of course, you can choose the recurrence of the repayment plans between daily, weekly, or monthly, although the percentage of sales due might not be as flexible. The total you pay back largely depends on how much you bring in pe...